Valvoline Secures Top Spot in Entrepreneur's Franchise 500® Rankings
Valvoline Inc. (NYSE: VVV), renowned for its quick, easy, and trusted preventive automotive maintenance, takes the lead as the top franchisor in Entrepreneur's 45th annual Franchise 500®. Achieving first place among oil change and preventive automotive maintenance brands and an impressive 27th overall among the top 500 franchises, Valvoline continues to stand out.
Valvoline President and CEO Lori Flees expressed pride, stating, "We are proud to be one of the top franchises in North America." Recognizing the pivotal role played by franchise partners in their remarkable growth, Valvoline looks forward to recruiting new partners to further expand its network.
With over half of its oil change and preventive automotive maintenance stores being franchise-operated, Valvoline aims for aggressive retail growth. The company plans to add 250 new store openings annually by 2027, with 150 of those attributed to franchisees.
Adam Worsham, Valvoline's Chief Franchising Officer, sees significant opportunity in the auto care industry. He emphasizes, "Being a Valvoline Instant Oil Change franchisee is a tremendous business opportunity for entrepreneurs." The strategic expansion aims to make Valvoline's quick, easy, and trusted services accessible to a broader customer base across the United States.
The Entrepreneur Franchise 500® ranking considers factors such as cost and fees, size and growth, support, and brand strength. Valvoline's recognition underscores its commitment to excellence in these key areas.
About Valvoline Inc., the leader in automotive preventive maintenance, the company is driving shareholder value by maximizing its core business, fostering network growth, and adapting to evolving customer needs. With a widespread network of service centers in North America, Valvoline and its franchise partners offer 4.6 out of 5 star-rated services, including 15-minute stay-in-your-car oil changes, tire rotations, and more. Fiscal year 2023 saw Valvoline's network deliver approximately 27 million services, generating $1.4 billion in revenue. Valvoline is proud of its people, with over 10,000 team members and strong, long-standing franchise partners. The company's commitment to training excellence has earned it the BEST Award ten times. To learn more or find a service center, visit vioc.com.
Business News
Harnessing AI: Transforming the Workplace for Enhanced Productivity
Navigating Economic Turbulence: The Inflation Conundrum
Sigma Lithium CEO Holds Firm Amidst Challenging Market, Focuses on Expansion Plans
Two Founders Sue Trump Media Business Over Alleged Share Dilution
Exploring Stanford's Thriving Startup Culture: Nurturing Entrepreneurial Minds